New Construction Loans in Alexander City, Alabama

Alexander City, AL has 22 construction hard money lenders in the city.
The average loan issued to borrowers is around $298,572.
The average rate for private loans in Alexander City is 10.9%.
The mean length for loans is 13 months.
A typical hard money loan made in this city includes a 2.8 percent origination charge. Lenders in Alexander City average a 70% loan-to-value (LTV) on their deals.

Loan Example 1

Brenda
is a real estate investor who decides to buy a home lot in Alexander City, AL and build a house.
Along with the $190,000 cost of the plot, Brenda
expects she will have about $200,000 in construction expenses to finish the home. Blue Sky Lending Company
makes a 85% loan to value (LTV) construction loan to Brenda
in order to fund the project. They agree to a 8% rate of interest for 12 months plus a two point origination fee.
Building costs are to be paid out in draws and there will be no pre-payment penalties charged.
Given the rules of this note, Brenda
will have to pay $58,500 plus $6,630 in origination fees at the closing, then will begin making $2,210 monthly payments. Brenda
's plan is to sell the home for $560,000. If she achieves this, she will earn a gross profit of $136,850 after deducting all costs ($331,500 principle amount, $58,500 cash down, $6,630 origination charges and $26,520 for 12 months of interest payments).

Loan Example 2

Herman
is a home builder in Alexander City, AL. He wants to acquire a home lot and construct a new house. He applies for a construction loan from Yellow Sun Funding Corporation
with the following stipulations:

$390,000 sales price for the lot

$200,000 in construction costs

50% loan-to-value (LTV)

18 month length

9% interest rate

3% origination charge

If Herman
achieves his goal of a $730,000 sale, the final numbers of the deal would be the following:

Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $6 Billion life-to-date in total loan volume to real estate ...

Based in Hamilton, NJ, Creative Hard Money LLC is a private lender offering loans throughout the United States.
They provide loans for many different scenarios, including fix and flip loans, cash out hard money loans, rental property loans, ground-up ...

Primeau Funding is hard money lender based in Scottsale, AZ. They provide loans across the United States.
They provide short term bridge loans, ground up construction loans, commercial loans, and fix-and-flip hard money loans.
They ...

Headquartered in Miami Beach, FL, YC Funding is an asset-based lender offering loans in 23 states across the United States.
They offer construction loans, cash out loans, buy and hold loans, short term bridge loans, fix and flip hard ...

Global Integrity Finance are commercial hard money lenders based in McKinney, Texas. They specialize in hard money loans for commercial properties, bridge loans, fix and flip loans, and construction loans in some cases. They fund all loans using ...

Sharestates is a Great Neck, NY based hard money lender. They provide loans in 46 states across the US. They offer lending solutions for a variety of needs and situations, including hard money loans for commercial properties, fix ...

Based in Colorado Springs, CO, Red Rock Capital is a private money lender providing loans in 42 states across the United States.
They offer construction loans, bridge loans, fix-and-flip loans, and loans for investments properties.
Their loan ...

Island View Private Loan Fund is a hard money lender based in Colorado Springs, CO offering funding in 42 states across the US.
They offer lending solutions for a variety of situations and needs, including fix and flip hard ...

Lima One Capital is a hard money lender based in Greenville, SC providing loans in 40 states across the US.
They offer loans for many different scenarios, including fix-and-flip hard money loans, construction loans, refinancing, and investment property ...

Headquartered in Long Beach, NY, NLDS Corp is a private lender providing funding in 32 states throughout the US.
They offer lending solutions for a variety of scenarios, including hard money bridge loans, fix-and-flip hard money loans, investment property ...

Empire Financial Services is a Tukwilla, WA based hard money lender who offers funding in 16 states across the country.
They offer lending solutions for a variety of situations, including hard money loans for commercial properties, fix and flip ...

Straightline Funding is an Atlanta, GA based private lender. They provide loans throughout Alabama, Georgia, Illinois, North Carolina, and South Carolina. They provide bridge loans, loans for investments properties, new construction loans, cash out loans, fix and ...

Sunset Equity Funding is a hard money lender based in Los Angeles, California. They issue loans in all states except for Alaska, North Dakota, and South Dakota. Their loan offerings include purchase loans, fix and flip loans, new ...

Rodeo Capital Inc is private lender headquartered in Los Angeles, CA. They provide loans throughout the US.
They offer lending solutions for many different situations, including refinancing, short term bridge loans, hard money construction loans, fix and ...

Miner Capital Funding is private money lender based in Belleville, IL. They offer funding all across the US.
They offer ground up construction loans, hard money refinancing, long term rental property loans, private commercial loans, short term ...

Based in Water Mill, NY, Hamptons Financial is a hard money lender offering funding throughout the United States.
They offer short term fix and flip loans, private commercial loans, new construction loans, hard money refinancing, bridge loans, and ...

BSIP Capital is a Temple, TX based hard money lender. They offer loans throughout the country. They provide lending solutions for a variety of needs and situations, including commercial loans, hard money refinancing, long term rental property loans, ...

Edward Voccola & Co is hard money lender based in Boston, MA. They provide funding all throughout the US.
They provide lending solutions for a variety of scenarios, including builder loans, hard money bridge loans, and ...

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